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Bitniex is a shady exchange that is operating illegally. The company already have negative feedback from their past clients. The platform should be shut down immediately to protect investors from losing funds. There are better crypto firms in the market that you can use.
Bitniex is a platform that is allegedly a crypto trading exchange. If you compare this company with other reputable trading exchanges in the market like Coinbase, you will automatically notice that something is off. The entity is unreliable and risky to trade with.
The company claims that it is trading popular digital assets like BTC, ETH, ZCH, LTC, and XRP. They advertise enticing returns, and the platform also has a Facebook and Telegram account. The platform states that it uses trading bots to generate these high rewards.
Bitniex brags that it has the capability of yielding profits of 4.5% in a single trade. It sounds too good to be true, which is the main reason you should stay away from this company. Multiple people endorse this scam as a legit company.
In this review, we shall get into details about why you should not trust this entity. Several red flags make the exchange untrustworthy. The firm has several statistics on various coins. The problem is that cryptocurrencies are very volatile, and the platform’s data does not reflect the real market outcome.
The company allegedly grants users an exceptional trading experience. Once you download their trading software, you unlock great potential. Additionally, you will be able to trade securely.
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One of the big questions that investors are asking themselves is whether Bitniex is a reliable exchange. We are writing this review to warn you that the company is a scam that should be avoided at all costs. The platform will not generate returns to their clients.
There is no crypto trading exercise taking place in this suspicious exchange. The digital currencies payment that you make will be lost. The worse thing is that you cannot be able to trace down your money once you deposit. Cryptos observe anonymity. Moreover, traders cannot issue a chargeback.
Multiple investors make money by trading digital assets. You can purchase a particular coin in one exchange at a lower cost and resell it at a higher price in a different exchange. The process is known as arbitrage trading, and multiple investors are making decent income using this method.
However, the process is not as easy as it might sound. The process is affected by liquidity and time. The volatile nature of the assets greatly affects arbitrage. There is nothing like making a stable income when it comes to cryptos.
Therefore, you should be cautious with companies like Bitniex that states otherwise. The platform price is higher than legit exchanges in the market. This is one of the red flags that are easy to spot. Our best advice is to avoid this company and look for reliable alternatives.
Invest with legit cryptocurrency trading companies that have a history in the market. Avoid jumping at every opportunity that presents itself. There are better platforms that will yield reasonable returns for you. All you have to do is to get basic knowledge of how online investment works.
How Bitniex Works
The company insinuates that you can purchase digital coins on other exchanges like Poloniex and resell them at a higher price in their firm. This will automatically result in a 9% profit. Such returns are hard to attain due to various factors affecting cryptos.
Moreover, this platform claims that traders can trade themselves without relying on a trading bot or trading signals. The company allows investors to transfer their coins in the exchange. However, this is nothing but a dream that will end with disappointments.
Bitniex will not permit you to withdraw your money. The assurance that this scam makes will not be fulfilled. We know that it is hard to accept, but the fantasy of becoming rich is false. Investors might confuse this exchange with a legit known as Bittrex. The two has platforms have no connection.
The fraudsters that are running this platform will keep all the funds that you send to their system. You will not recover a single penny. Whenever you encounter a website purporting to be an investment venture with such luring profits, discredit them. The possibility of these companies being Ponzi schemes is very high, and nothing good comes from them.
The exchange does not have a responsive customer support team. However, this is expected, considering that the platform is fraudulent. Bitniex might result in asking for more money from their customers to process their withdrawal requests.
It is a merry go round that never ends. They will give multiple excuses and even change their terms of service. Scammers are desperate, and investing with them; you are only contributing to their dream of becoming rich. They do not care about their clients.
The company does not have a physical address. Therefore, traders can’t visit their offices. The platform is tactical since they also do not reveal the people that are handling clients’ funds. We are not surprised by the nature of this scam.
Bitniex is dealing with investors’ funds without being regulated. The government does not license the majority of crypto investment exchanges. However, there are still reputable and reliable ones. It means that once you deposit money in this scam, there is no way of recovering your funds.
You will suffer big time, considering their location is also a mystery. The only help you can provide is to report this company to your country’s financial body. You will help multiple investors to avoid making a dire mistake.
Bitniex should be shut down immediately. They don’t provide fund safety to their clients. Moreover, this platform might falsely claim that it has been hacked, resulting from funding loss. The sad reality is that you will not be compensated.
Bitniex is a company that has false testimonials on Trust Pilot. These people claim that they have gained huge returns using these exchanges. The main problem is that. These reviews are fake. People are misleading others that this is the best exchange.
However, some real investors are warning traders against investing with Bitniex. They have already lost funds using this fraudulent firm. It would help if you did not risk the safety of your funds with such a venture. Once you try to withdraw the money, you will get a system malfunctioning.
The support of this company is also terrible. The platform is not responding to the queries of its customers. Those claiming that the exchange has a fast withdrawal process, reliable support will get their commission at the end of the day. Sadly, they make money at the expense of others.
Bitniex is a platform that is stealing funds from innocent traders. The developer of this exchange is anonymous, and the support is unethical. They have managed to con a great number of investors. Avoid becoming their next victim by not investing with them.
The returns which the firm promises investors are too good to be true. Moreover, there is no evidence of earning from any of their clients. The company is a dirty scam that won’t help you achieve your financial goals.
Invest with legit crypto trading companies that are reliable and transparent. You can also read their happy customers’ reviews on their website. Moreover, these companies do not make unrealistic promises. Their security measures are thorough and protect traders.